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Economy & Business - July 2021

MEXICO: Complaints over labour conditions in Mexico mar USMCA anniversary

July 1 marked the first anniversary of the US-Mexico-Canada Agreement (USMCA) on regional trade that replaced the 1994 North American Free Trade Agreement (Nafta). Despite having come into effect amid the coronavirus (Covid-19) pandemic that severely disrupted global trade as a result of lockdowns and other restrictive measures introduced to curb the spread of the virus, the USMCA played a critical role in keeping trade flows of essential goods moving. It has also been at the centre of the Mexican economy’s recovery after the severe economic contraction recorded in 2020 due to the impact of the pandemic, with growth in demand for Mexican goods in the US stemming from the US government’s major economic stimulus package and infrastructure development programme.

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